Dr. Gleb Tsipursky – The Office Whisperer
Nirit Cohen – WorkFutures
Angela Howard – Culture Expert
Drew Jones – Design & Innovation
Jonathan Price – CRE & Flex Expert
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Quiet quitting seems to be all the rage — employees meeting their workplace expectations, then leaders forming strong opinions on why this isn’t enough.
But a starker trend has already penetrated the workplace that executives should be worried about: quick quitting.
After the initial shock of the pandemic, professionals began to question their purpose at work, leaving many to participate in what is now being called the Great Resignation (or the Great Reshuffle) to find better work experience.
This trend is showing no signs of slowing down, either.
Analysis from LinkedIn’s Economic Graph team shows that the short tenure rate (STR) — or the number of positions that last less than a year — has soared across several industries.
In fact, STR grew to 9.7% year-over-year in March. While the pace of growth has slowed, workers are still optimistic about finding new jobs.
For instance, demand for white-collar jobs has grown in the last few years, causing quit rates to accelerate among these professionals.
On the other hand, the healthcare industry saw its STR peak at 9.4% in September of 2021, but has since been slowing down since January of this year.
“Inflation has driven our workforce to seek employment that can and will pay higher wages,” said Tony Strange, CEO of Aveanna Healthcare, during an earnings call. “We need to increase caregiver wages on average 15% to 25%.”
The trend of quick quitting stems from one main desire: better work conditions. That’s why revamped benefits packages and increases in salary and wages have become a necessity in the future of the workplace.
“When you look at the jobs that are having trouble hiring, it’s the ones with really long hours, inflexible schedules, not great pay and limited benefits,” said Paige Ouimet, a finance professor at the University of North Carolina.
